Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various therapeutic agents. Its structure is particularly valuable in the development of drugs targeting neurological disorders, such as depression and anxiety, due to its ability to interact with serotonin receptors. Additionally, it has been explored in the creation of compounds with potential antidepressant and anxiolytic properties. The methoxy group on the phenyl ring enhances its binding affinity to specific biological targets, making it a useful building block in medicinal chemistry. Researchers also investigate its role in modulating other neurotransmitter systems, contributing to the development of novel treatments for mental health conditions.